EX-99.1 2 tm2311196d1_ex99-1.htm EXHIBIT 99.1

Exhibit 99.1

 

EMERGÊNCIA PARTICIPAÇÕES S.A.

 

Statements of financial position

As of December 31, 2022 and 2021

(Values ​​expressed in thousands of Brazilian Reais)

 

 

Assets

 

   Consolidated 
   December 31,
2022
   December 31,
2021
 
Current          
Cash and cash equivalents   271,607    118,918 
Trade and other receivables   711,892    234,288 
Current income tax and social contribution recoverable   6,388    4,895 
Other taxes recoverable   29,740    13,308 
Prepaid expenses   37,806    1,484 
Advances to suppliers   29,864    47,283 
Inventories   18,128    8,781 
Dividends receivable   -    - 
Other accounts equivalents   36,498    24,454 
Total current assets   1,141,923    453,411 
           
Noncurrent          
Related parties loans   26,180    34,726 
Non-current income tax and social contribution recoverable   2,854    - 
Non-current other taxes recoverable   392    - 
Deferred taxes   25,420    8,987 
Judicial deposits   826    147 
Other accounts receivable   37,599    6,811 
           
Investments   7,620    - 
Property, plant and equipment   516,081    296,396 
Right of use   68,275    35,225 
Goodwill   1,192,302    585,746 
Intangible assets   420,197    9,632 
Total non-current assets   2,297,746    977,670 
           
Total assets   3,439,669    1,431,081 

 

Liabilities and net equity

 

   Consolidated 
   December 31,
2022
   December 31,
2021
 
         
Current          
Loans and financing   67,656    60,755 
Debentures   84,187    - 
Trade and other payables   155,523    39,573 
Labor obligations   114,941    21,552 
Dividends payable   76,909    31,469 
Current income tax and social
contribution payable
   12,998    6,872 
Other tax payable   33,719    17,678 
Obligations from acquisition of investment   141,698    128,130 
Lease liabilities   14,411    9,635 
Other bills to pay   36,345    30,480 
Total current liabilities   738,387    346,144 
           
Noncurrent          
Loans and financing   649,762    94,549 
Debentures   516,533    - 
Other taxes payable   7,986    4,065 
Related parties loans   769,792    482,161 
Provision for loss on investments   -    - 
Deferred income tax and social contribution   190,833    33,404 
Obligations from acquisition of investment   81,728    101,278 
Provision for contingencies   607    181 
Lease liabilities   32,648    22,032 
Other bills to pay   4,305    9,349 
Total non-current liabilities   2,254,194    747,019 
           
Equity          
Capital   261,920    261,920 
Profit reserves   302,817    176,148 
Capital transactions   (110,218)   (116,486)
Equity valuation adjustment   -    984 
Accumulated translation adjustment   (89,165)   3,428 
           
Attributable to controlling interest   365,354    325,994 
Non-controlling interest   81,734    11,924 
Total equity   447,088    337,918 
           
Total shareholders' equity and liabilities   3,439,669    1,431,081 

 

 

 

 

EMERGÊNCIA PARTICIPAÇÕES S.A.

  

Statements of income

Years ended December 31, 2022 and 2021

(Amounts expressed in thousands of Brazilian Reais, except earnings per share)

 

   Consolidated 
   December 31,
2022
   December 31,
2021
 
         
Gross revenue   1,813,280    919,084 
Deductions from gross income   (128,384)   (96,881)
           
Net revenue   1,684,896    822,203 
           
Cost of services rendered   (1,337,749)   (618,691)
           
Gross Profit   347,147    203,512 
           
Operating (expenses)/revenues          
Selling, general and administrative   (26,553)   (26,837)
Equity in earnings of investments   3,628    - 
Other income, net expenses   12,536    1,355 
    (10,389)   (25,482)
           
Operating profit   336,758    178,030 
           
Net finance costs          
Financial expenses   (113,541)   (12,804)
Financial income   9,567    10,776 
    (103,974)   (2,028)
           
Net income before income and social contribution taxes   232,784    176,002 
           
Current income tax and social contribution   (35,806)   (23,773)
Deferred income tax and social contribution   (9,104)   (14,087)
           
Profit for the year   187,874    138,142 
           
Attributable to          
Controlling interest   161,493    131,116 
Non-controlling interest   26,381    7,026 
           
Number of shares at year end   261,920,439    261,920,439 
           
Earnings per share at year end - in R$   0.72    0.53 

 

 

 

 

EMERGÊNCIA PARTICIPAÇÕES S.A.

 

Statements of cash flows

Years ended December 31, 2022 and 2021

(Values ​​expressed in thousands of Brazilian Reais)

 

      Consolidated
Cash flows from operating activities     December 31,
2022
  December 31,
2021
Net income for the year     187,874          138,142
           
Adjustments to reconcile income to cash from (applied to) operations:          
Depreciation and amortization     112,029            60,163
Expected credit losses     248               (340)
Residual value of written-off property, plant and equipment and intangible assets 26,291            (6,355)
Provision for contingencies     334               (365)
Income tax and social contribution - deferred     9,104            14,087
Equity     (3,628)                 -   
Other reconciliation adjustments     (2,779)                 -   
Interest on loans and financing, debentures, leases and exchange rate variation   96,699             2,919
           
Changes in assets and liabilities:          
Accounts receivable     85,469           (79,118)
Recoverable taxes     (20,550)            (6,102)
Prepaid expenses     (32,859)             1,778
Advances to suppliers     23,650           (29,287)
Inventories     (5,672)            (3,607)
Other accounts receivable     18,783            24,850
Suppliers                (1,989)           (21,740)
Salaries and social security charges                27,472            (1,485)
Taxes payable                34,210            (2,900)
Other accounts payable               (25,736)           (17,565)
           
Cash generated from operating activities             528,950           73,075
           
Interest paid on loans and financing               (12,126)            (5,985)
Interest paid on debentures               (25,274)                 -   
Interest paid on leases                (2,400)               (573)
Income tax and social contribution               (18,213)            (2,193)
           
Cash from (invested in) operations             470,937           64,324
           
Cash flow from investing activities          
Dividends received                     -                    -   
Cash spent on companies' acquisitions; net of cash received           (1,090,040)         (286,134)
Payment of obligations from acquisition of investments             (134,981)           (38,493)
Acquisition of property, plant and equipment and intangible assets               (95,748)         (123,793)
           
Net cash used in investing activities         (1,320,769)        (448,420)
           
Cash flow from financing activities          
Attributed to shareholders          
Profit distribution - prior periods                     -                   (63)
           
Attributed to financing          
Related parties                71,019          441,662
Lease payments - Principal               (32,802)            (6,819)
Proceeds from loans and financing               446,870            50,620
Funding of debentures              573,623                 -   
Payments of loans and financing - Principal               (63,985)           (52,152)
Payment of Share Issuance Costs                     -                    -   
           
Net cash generated from financing activities             994,725         433,248
           
Increase in cash and cash equivalents             144,893           49,152
           
Exchange rate change in cash and cash equivalents                 7,796             8,012
           
Cash and cash equivalents at the beginning of the year              118,918            61,754
           
Cash and cash equivalents at the end of the year             271,607         118,918